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India’s largest digital cable TV services provider GTPL Hathway Ltd. declined over 4 percent in morning trade on Friday after the company reported a 32 percent decline in its net profit at Rs 39.82 crore for the December quarter compared to Rs 58.62 crore in the corresponding year-ago period.
The company’s consolidated revenue from operations rose by 14.4 percent to Rs 685.63 crore in the December quarter from Rs 599.12 crore in the year-ago quarter.
Its consolidated EBITDA declined to Rs 131 crore from Rs 138 crore in the same quarter a year ago while the EBITDA margin dropped to 18.6 percent from 24.1 percent a year ago and 20.9 percent in the September quarter.
The revenue from digital cable TV services rose by 3 percent YoY to Rs 277.50 crore, while revenue from broadband services increased by 18 percent YoY to Rs 124.3 crore in the period under review.
Its digital cable TV subscribers rose by 9 percent YoY as it expanded its footprint in Delhi, Haryana, and Uttarakhand. The broadband active subscriber base increased by 17 percent YoY.
The average revenue per unit (ARPU) for broadband business rose by Rs 10 to Rs 455 on a YoY basis.
The company also launched ‘GTPL Genie+’, a B2C OTT apps aggregation product, offering subscriptions of OTT applications in convenient pocket-friendly packs. It is available to all existing customers of GTPL (Digital Cable TV and Broadband). Packs are available in 1-month, 3 months, 6 months, and annual subscriptions.
GTPL Hathway Limited is India’s largest multisystem operator (MSO) providing Digital Cable TV services and is the 6th largest Private Wireline Broadband service provider in India.
Shares of GTPL Hathway ended 3.11 percent lower at Rs 133.85 on Friday.
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